Pre Market Report, November 8, 2016 | Stocks and Commodities

November 8, 2016
Time: 8.50 am

Pre Market Report:

1. US markets fell for 8 consecutive sessions last week but erased the entire loss of 8 days in just one day.
2. Asian markets are mostly higher.
3. SGX Nifty is trading about 25 points higher but still below yesterday's high.
4. ICICI came with better results though NPAs are up.
5. So ICICI Bank is likely to move higher.
6. China's export import figures were below estimates.
7. Due to the overall bullishness due to US elections, these figures will be ignored.
8. FIIs have shorted index futures and went long in stock futures.
9. They are net buyers after a long time in both Cash and F&O.
10. DIIs continue to buy aggressively.
11. Markets are likely to be choppy ahead of such a big event.
12. Since the trend will be clear by 9 am tomorrow, we can expect gap up or gap down tomorrow.
13. That will make traders jittersy today and traders might book profits by the end of today.
14. That may bring some volatility in the afternoon.
15. Dow future is also trading about 40 points lower after a stellar run yesterday.
16. Nifty future may trade in a tight range of 8520 and 8580 today.